I guess the main message from the recent company announcement on drilling progress is that there won't be a JORC compliant estimate anytime soon, with drilling now suspended for the Qld wet season. The company had earlier this year indicated it was hoping for a JORC compliant estimate by year's end.
I thought the announcement pretty skimpy - no info on the location of the holes drilled (it would have been nice to have a map showing where the holes had been drilled)
Also a bit of elaboration on the "technical reasons" for slow progress despite the 5 (or is it 6?) drilling rigs on the job would have been helpful.
The most positive thing I have read about BWN of late is the independent expert's opinion (page 21 of his report) that, given the nature of the tenements and multiple seams intersected by drilling, "there would be an excellent chance of finding 500-1000Mt of underground and open cut coal."
BWN Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
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